SIDBI Venture Capital Ltd (SVCL) on Monday announced the first close of the Antariksh Venture Capital Fund at Rs 1,005 crore, marking a significant step in India’s effort to deepen private sector participation in its fast-expanding space ecosystem.
The fund has secured a Rs 1,000 crore commitment from the Indian National Space Promotion and Authorisation Centre (IN-SPACe), which acts as the anchor investor.
With a target size of Rs 1,600 crore, the fund will now seek further capital from domestic and overseas institutional backers, including sovereign investors, under a green shoe option.
The Antariksh Venture Capital Fund is registered as a Category II Alternative Investment Fund and has a planned life of 10 years. It aims to invest across early-stage and growth-stage Indian spacetech companies, from launch systems and satellite manufacture to in-space services, ground segment operations, earth observation platforms and communications.
Recently, The CapTablewrote about how the Indian spacetech founders and investors are chasing what happens in orbit: navigation systems, microgravity labs, satellite servicing, and business models that can turn presence in space into profit on Earth.
The fund’s scope also covers downstream applications that convert space-based data into commercial or public services. This broad mandate reflects the government’s intention to nurture an end-to-end private space industry that can serve national needs and compete globally.
The new fund builds on India’s recent policy push to improve access to capital for space enterprises. The government previously established a dedicated Rs 1,000 crore venture capital fund managed by IN-SPACe to support promising spacetech startups. That allocation has now taken shape as the anchor commitment in the Antariksh Fund.
Alongside this, the Fund of Funds for Startups scheme operated by SIDBI has earmarked Rs 211 crore towards deeptech and spacetech-focused venture funds.
Together, these mechanisms create multiple channels of publicly backed capital intended to de-risk early innovation in a sector with long development cycles.
India’s interest in building a more commercially vibrant space sector has gathered momentum in recent years. The creation of IN-SPACe in 2020 and the opening of key segments to private players marked a turning point.
This was followed by a series of initiatives designed to draw private capital into a domain that had historically been dominated by public agencies.
SVCL, a wholly owned subsidiary of SIDBI, has positioned the fund as its 12th venture capital vehicle. Its objectives are aligned with the national mission to expand the space economy to an estimated $44 billion by 2033.
The fund is also linked to the aims outlined in India’s Space Vision 2047, which places strong emphasis on advanced manufacturing, next-generation satellite systems and increased private sector involvement across all layers of the value chain.
“The Antariksh Venture Capital Fund, India’s largest spacetech-focused fund and among the largest globally, will play an instrumental role in advancing national space capability and competitiveness,” said Arup Kumar, Managing Director and CEO, SVCL.
Edited by Suman Singh
Original Article
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